At the time that it was published, What If was my favorite Marvel comic.  It was like getting the whole package in one title; primers on what the origins and major events were, as well as a complete, done-in-one take on what would have happened had things gone differently... Wonderful stuff!  The "heroes with alternate identities" trick always worked for me.  I didn't catch issue 7, with the multiple Spider-heroes, but Jane Foster as Thordis and Rick Jones in "I was a teenage Hulk" were magical to my eyes. The recent What If series did takes on this basic concept as well, with Thunderbolt Ross becoming the Hulk and Victor Von Doom becoming the Thing (in a story almost exactly like one I outlined almost 20 years earlier when I was drawing sample pages for submission to Marvel ((!!!)))

As a kid, I outlined a story wherein the Fantastic Four's rocket ride took them over the rainbow into Oz.  They experienced even greater exposure to the cosmic ray storm so Reed had little control over his super-flexible body and had to have his clothes stuffed with straw for support.  Johnny became a variation of the Mandroid (the robotic hero he became in What If 6), Ben was large and brutally scary, but not rocky as a sort of Lion-beast... As I recall, I thought the whole thing was kind of fun & silly, but that the story actually worked... I don't know if I'd still think so today.
I also had an idea for "What If Ben Grimm had become Captain America?" where he still mutates into the Thing and becomes "The Ugly American!"
And What If the Hulk had become Captain America? Well, he'd be "the Star-Spangled Banner," of course!

Today?  I don't know.  I love Dave Ferguson's idea for a Battlin' Jack Murdock story!  There's a book I wouldn't hestitate to buy! Whatever is done with What If concepts, Galactus should be left out of it unless he was already in the original story.  "What If the FF had failed to save Galactus?" would be one I'd like to read.  "What If Rick Jones and Bruce Banner had fused into the Hulk," and it turns out that they destroy a section of New York, killing Alicia Masters so that she is not there to turn the Surfer's heart from his awful mission yadda yadda yadda... That one I could skip. There's never been an issue of "What If" starring the Defenders has there? 

"What if the Defenders "Membership Madness" had never ended?" There we go.  There's one I'd like to write and draw!

I think I'd be most fascinated by a "What If Captain America did not Vanish during World War 2?" story, which actually happened in WHAT IF? in the 70s (which I haven't read).

I think Cap ends up leading a mess of Invaders, including the Destroyer, Whizzer, and Blazing Skull, right into the heart of Nazi Germany, ending the War. Bucky, however, is killed during the Final Charge.

The Japanese continue fighting in the Pacific. Cap is grief-stricken but maintains his role as the spirit of America, along with the Torch, Toro, and Spitfire. Namor returns to a neglected Atlantis, fearing reprisal by the Red Skull.

The Destroyer somehow learns of the US's intention on dropping the Bomb on Hiroshima and Nagasaki. In this reality, the Destroyer has ties to Japan, perhaps a wife there or an old teacher. He recruits the Blazing Skull, Gorillaman, and the Whizzer to stop the U.S.S. Indianapolis on its mission to deliver the components for "Little Boy". The Destroyer cannot accept the mass murder of civilians, not after witnessing other atrocities, such as London and Dresden, and the camps.

Captain America and the Invaders, despite their trepidation of the necessity of the Bomb, are on board the Indianapolis, due to the mission's utmost import. Namor, meanwhile, prepares Atlantis to invade the surface world when he discovers that the destructive force of nuclear power will endanger his Kingdom.

The Destroyer's "Team X" attacks the Invaders, with the Destroyer and Cap battling for "Super Soldier" supremacy and, in a way, the conscience of America. The Torch is belowdecks battling the Blazing Skull, and Toro and Spitfire are kept busy by the Whizzer.

Meanwhile Gorillaman's primary mission is to destroy the Bomb components. Union Jack, until then only in reserve, appears to stop Gorillaman. During their battle, the uranium is detonated. Union Jack and Gorillaman are incinerated.

The Torch manages to absorb the uranium energy before the ship and its crew are killed, but in doing so "goes nova" over the Pacific and is destroyed. The Destroyer and Team X are arrested by Cap. The cruiser limps back toward San Francisco.

Meanwhile, Namor's Atlantean warriors quickly subdue the American homefront defense, crippling it with his advanced knowledge of military strength. Within 24 hours, Namor's troop strength isolates NYC, puts it under martial law, as he begins negotiations to end nuclear capabilities.

Learning of Namor's "turncoat" attitude, Cap must accept that a new kind of war has begun, that Namor is the threat that Cap was warned about by the US Government.

Now, Cap is told that the President has already determined that the nuclear bomb "Fat Man" is to be dropped on NYC. Namor, already considered as dangerous as Stalin, is to be eradicated at all costs.

Will Cap accept the loss of human life, AMERICAN life, as readily as he was going to accept the Japanese destruction? Can he possibly live with the ramifications of this act?

Will the Invaders act in time to stop this tragedy?

One of the things Raimi completely missed out on in his first two Spider movies (I've yet to see the third) is that Peter is a very special individual and that the powers are just the icing on the cake. He is a genius first and a physically augemnted human second.

The Spider persona that Peter retained (after failing in the world of entertainment) to fight the good fight is the answer to a problem that a teenager would come up with. An older, wiser Peter Parker would realize that his greatest power is his mind and start using his inventive abilities to help society in more ways that just using his fists to take down the villain of the month.

I think I'd be most fascinated by a "What If Captain America did not Vanish during World War 2?" story, which actually happened in WHAT IF? in the 70s (which I haven't read).

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 Just for the record, as I recall, that story was pretty good. 

I do want to read it, for sure. As far as Marvel What If scenarios, Cap's continued life post-WW 2 is the one I think about most. At least, when asked.

I'd like to see What If stories fleshed out more. Sometimes 1 issue just isn't enough room.... maybe some mini-series....

Ideas for a What If based on Civil War have started floating around my head. Not much is concrete, but I know that Spider-Man would NOT reveal his identity, and that Iron Man would die in Captain America's place.

I like the ideas of "What If Captain America Did Not Vanish During World War II"... The Invaders What If from the 70's was a good issue! If done correctly, this would make an excellent mini/maxi-series.... I'd like to see the story divided up a little into WWII, "Silver-Age", and "Modern Age". How would Cap being present during all that time affect the Marvel Universe?

Has there ever been a "What If The Avengers Lost the Kree/Skrull War"? Again, if it was fleshed out as a mini-series, this could be an amazing story!

I looked up the issue on GCD. It makes all the sense for Roy the Boy to be on it. Also, Don Glut's involved in the script, with George Tuska on art chores.

If I recall correctly, Chad, it was written by Roy Thomas. I read it a long time ago though, so I could be wrong

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It was by Roy Thomas. I think it's also the only "What If" that's meant to be "in continuity". There's a What If trade paperback with this story in it.

This looks like the closest one, Kor.